The Hanover Insurance Group (NYSE:THG) Hits New 12-Month High – Still a Buy?

Shares of The Hanover Insurance Group, Inc. (NYSE:THG) hit a new 52-week high during trading on Wednesday . The company traded as high as $158.77 and last traded at $158.77, with a volume of 1297 shares traded. The stock had previously closed at $150.15.

Analyst Ratings Changes

Several research firms have recently weighed in on THG. Oppenheimer lifted their price target on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Piper Sandler lifted their target price on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods upped their target price on The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a report on Thursday. JMP Securities raised their price target on The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Finally, Bank of America increased their target price on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, The Hanover Insurance Group has an average rating of “Moderate Buy” and an average price target of $173.40.

The Hanover Insurance Group Stock Performance

The firm’s fifty day simple moving average is $148.61 and its 200 day simple moving average is $137.13. The company has a market capitalization of $5.75 billion, a PE ratio of 15.51 and a beta of 0.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.40 and a quick ratio of 0.40.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.40. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 earnings per share. On average, research analysts predict that The Hanover Insurance Group, Inc. will post 11.22 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Friday, September 13th. The Hanover Insurance Group’s dividend payout ratio (DPR) is 33.73%.

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 300 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total value of $45,000.00. Following the completion of the transaction, the executive vice president now owns 89,733 shares in the company, valued at approximately $13,459,950. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $150.00, for a total value of $45,000.00. Following the sale, the executive vice president now directly owns 89,733 shares of the company’s stock, valued at approximately $13,459,950. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey M. Farber sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $155.08, for a total value of $1,860,960.00. Following the completion of the sale, the executive vice president now owns 66,091 shares of the company’s stock, valued at $10,249,392.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,303 shares of company stock valued at $4,372,203. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On The Hanover Insurance Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd acquired a new position in shares of The Hanover Insurance Group during the 2nd quarter worth about $25,000. V Square Quantitative Management LLC purchased a new position in shares of The Hanover Insurance Group in the third quarter valued at approximately $26,000. 1620 Investment Advisors Inc. acquired a new stake in shares of The Hanover Insurance Group in the second quarter worth approximately $42,000. GHP Investment Advisors Inc. increased its position in shares of The Hanover Insurance Group by 64.9% during the second quarter. GHP Investment Advisors Inc. now owns 427 shares of the insurance provider’s stock worth $54,000 after purchasing an additional 168 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in The Hanover Insurance Group in the 3rd quarter valued at $60,000. 86.61% of the stock is owned by hedge funds and other institutional investors.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.